Medytox CEO Jung Hyun-ho is slated to meet with executives at Allergan to discuss the start of phase 3 clinical trials of its liquid-type botulinum toxin Innotox this week, according to local news reports Tuesday.　Medytox and Allergan struck a license partnership in 2013, when the Seoul-based company sold the global development and commercialization rights to Innotox to Allergan for $360 million.Jung’s recent visit to the US is aimed at cementing a concrete timetable for the US clinical trials o

Industry July 11, 2017

Despite being known for cutting-edge tech hardware, South Korea has long been held back in the area of software by an outdated security requirement that almost every user loves to hate -- ActiveX plug-ins.Like the previous administration, Korea’s new President Moon Jae-in has pledged to abolish ActiveX downloads from all government websites to improve user convenience and catch up with global cybersecurity standards.But the solution proposed by the government -- EXE extensions -- is a similar sy

Technology July 10, 2017

Despite North Korea’s persistent missile provocations and nuclear threat, South Korea should engage with the North and build trust with it to reduce the risk of an all-out war on the peninsula, a senior United Nations official said. 　Daniel Prins, chief of the United Nation’s Conventional Arms Branch, said taking confidence-building measures on the military area is “absolutely essential” to avoid misperception between the two Koreas, whose cross-border exchanges have been suspended since the Nor

North Korea July 10, 2017

　A day after North Korea launched what they claimed to be an intercontinental ballistic missile capable of carrying a large nuclear warhead, South Korea’s military on Wednesday released a computer-animated video showing missile strikes at the heart of Pyongyang. 　The one-minute video clip included footage of destroying a command post of the North Korean People’s Armed Forces’ Ministry, with a long-range high-precision missile Taurus, a German-missile thought to be accurate enough to hit the offi

National July 9, 2017

South Korea was drenched with torrential rain on Saturday, as the country has entered into its summer rainy season for this year.    The central region was hit with up to 50-60 mm of heavy rain per hour, with some areas in the northeastern province of Gangwon recording as much as 180 mm per hour from Friday to Saturday morning, according to the Korea Meteorological Administration (KMA).    The authorities issued heavy rain warnings for the Gangwon region and some areas in Gyeonggi Province as of

National July 8, 2017

South Korea's deficit in the tourism balance widened to hit a record high in May due to a sharp drop in foreign visitors, central bank data showed Saturday.   The tourism balance of payment, referring to the net travel expenditure that South Koreans used on short-term overseas tours, reached a record US$1.18 billion in May, according to the data by the Bank of Korea (BOK).   It has remained in the red since December 2014 and touched an earlier record of $1.13 billion in July 2015, when South Kor

North Korea July 8, 2017

Two US long-range strategic bombers flew over the peninsula for a joint drill with the South Korean Air Force, in a stern warning message against North Korea's latest missile launch, defense officials said Saturday.    The B-1B Lancers were sent from the Anderson Air Base in Guam earlier to fly over the sky of the Korean Peninsula for precision-strike training, according to the South Korean Air Force.It was to "sternly respond to the series of ballistic missile launches by North Korea," it said.

North Korea July 8, 2017

North Korean leader Kim Jong-un visited a memorial hall to pay tribute to the regime's late founder upon the 23rd anniversary of his death, its state-run media said Saturday.   Kim Jong-un was at the Kumsusan Memorial Hall, where the body of Kim Il-sung, his grandfather, is enshrined, to pay respects and mark the anniversary of his passing in 1994, according to the Korean Central News Agency (KCNA). North Korea leader Kim Jong-un. Yonhap   He was also accompanied by key party and military offici

North Korea July 8, 2017

South Korean mobile messaging giant Kakao and global automaker Volkswagen have partnered to move forward their smart mobility businesses centered on technologies for autonomous vehicles and connected cars. 　Kakao, the operator of Korea’s most popular mobile messenger KakaoTalk, confirmed Friday that its CEO Rim Ji-hoon held private meetings with high-level Volkswagen executives earlier this week to discuss the partnership.News of the private meetings were publicized via a Twitter post from Volks

Technology July 7, 2017

Hanwha Engineering & Construction, a subsidiary of South Korea’s Hanwha Group, is offering a series of business benefits to its top-rated partner companies as part of efforts to promote shared growth. 　Hanwha E&C on Wednesday awarded 30 partner companies in the categories of construction, civil engineering, plant operations, machinery, electricity and purchasing, for contributing to quality enhancement and technology innovation in their respective fields. Hanwha E&C CEO Choi Kwang-ho (center, fr

Industry July 7, 2017